Business Briefs

Thursday, March 14, 2019

Rupee rallies for 3rd day, up 17 paise against US dollar
The Indian rupee yesterday clocked its third straight session gains, rising 17 paise to close at a fresh two-month high of 69.54 against the US dollar on sustained foreign fund flows. Besides, the US dollar's weakness against its key rivals overseas strengthened forex market sentiment domestically. At the Interbank Foreign Exchange, the domestic unit opened at 69.71 and advanced to a high of 69.42 during the day. It finally settled at 69.54, a rise of 17 paise against the dollar. This was the best closing level for the Indian unit since January 1 this year, as it ended that day at 69.43.

Dhruv Consultancy bags order’s worth Rs. 25.36 cr
Dhruv Consultancy Services Ltd, has been awarded LOA’s (Letter of Acceptance), for six different Road Infrastructure consultancy packages totalling Rs. 25.36 cr. Majority of the orders are for Independent engineer for NHAI-HAM projects, for Highway four laning. With these new order the company has been able to enter new geographies, having bagged orders in Madhya Pradesh, Uttar Pradesh and in far east also in Meghalaya and Manipur. Commenting on the development, Tanvi Auti, Managing Director of Dhruv Consultancy Services Ltd. said “The strong build up in the order book is evident of the growing technical capability of the company. Of the orders bagged, more than 80% are for Authority/Independent Engineer for NHAI-HAM projects and we have also been able to increase our average ticket size, this will give better efficiency and higher margins in the days to come.”

Brainwonders expands its patented DMIT tests; ties up with 16 corporates
Brainwonders, the expert in the science of Dermatoglyphics and the only U.S Patented DMIT Company, has extended the DMIT test to corporates to help them with their recruiting, management and training needs and has tied up with 16 companies in the initial phase. The scientific DMIT test helps employees boost their careers by learning about their workplace behaviour, their interests and competency areas and ways of improvement. This arms them with the best career options and recommendations on how to excel in their chosen field. Manish Naidu, CEO and Founder, Brainwonders, said, “Brainwonders provides an opportunity to working professionals to use our services to boost their career by learning about their workplace behaviour, their interests and competency areas and ways of improvement. Many HR professionals are turning to BRAINWONDERS DMIT to recruit and manage the best employees and orient them towards growth.”

Guiddoo raises latest round of Funding from SOSV, Artesian
Travel Technology Startup Guiddoo has secured an undisclosed amount of funding from SOSV - a leading global venture capital firm based in New Jersey and Artesian China fund to build its products and offerings for the China market. Guiddoo currently offers its services across 15 international destinations and works with over 4000+ Travel Agents in India and also has institutional partners including Cleartrip & Yatra for their activities. In 2017, Guiddoo raised $300,000 (Rs 1.9 crore) and a second round of funding in December 2018 of $ 800,000 (Rs 6 crore) in a pre-Series A round from global investors. Vineet Budki, Co-Founder & CEO at Guiddoo said, “With rapid digitization and subsequent rise of an experiential economy, there has been a fundamental shift in the consumer behavior with them seeking novel experiences - such as travelling solo and to unknown destinations, as part of their travel. This has fueled the growth of in-destination segment and we see a huge potential in the same going forward.

ICAI-CAPA organises joint Roundtable on Financial Management
The Institute of Chartered Accountants of India (ICAI) in collaboration with the Confederation of Asian and Pacific Accountants (CAPA) organised a joint “Roundtable Stakeholder’s meeting on Public Sector Financial Management” in New Delhi on March 11, 2019. The Roundtable gave the attendees an overview of Public Sector in India and the role that the accountancy profession plays in improving its financial management. CA. Prafulla P. Chhajed, President, ICAI said “This event has brought together professionals from all arenas including the World Bank, ADB, CAG, CGA, GASAB, CAPA, Ministry of Finance, Ministry of Railways, Ministry of Communications and many others.
Shashi Kant Sharma, Former CAG of India inaugurating the ICAI-CAPA event in the presence of CA. Prafulla P. Chhajed, President ICAI, CA. Atul Kumar Gupta, Vice- President ICAI, CA. Manoj Fadnis, President, CAPA and other dignitaries.

12th Edition of In-store Asia retail fair opens in Mumbai
In line with the phenomenal projected growth of physical retail, emerging in store design, VM and in-store marketing, the 12th edition of In-store Asia, (ISA) which is now part of EuroShop, Messe Düsseldorf GmbH, the world’s leading retail fair for all investment needs in the brick-and-mortar retail sector, is set to take place during March 14-16 at Bombay Exhibition Centre. Thomas Schlitt, Managing Director, Messe Düsseldorf India, said, “Worldwide disruptive technologies are shaping the future of retail and India is no exception. The promising retail space of the country is soon going to witness an unprecedented growth backed by innovations in store design, VM and in-store marketing. Newer avenues at the bottom line of retail industry will be game changer for the sector and revolutionize consumer experiences and touch points. We are confident that the 12th edition of in-store Asia 2019 will be a milestone in this growth journey.”

Aries (Mar 21 - Apr 20)You are likely to remain careful and watchful today, foretells Ganesha. And because you'll be invited to parties and other social events, your enthusiasm will remain buoyant. You will also strike the right balance between business and pleasure, says Ganesha.